The transaction, approved by GELLIFY together with the Azimut Digitech Fund by Azimut Libera Impresa SGR, will help with Surge’s strategic and operational development and its international go-to-market strategy.
Milan, 18 March 2021 – Surge , SaaS software solution that enables the first collaborative data management based on blockchain, has joined the portfolio of GELLIFY, a B2B innovation platform that selects, invests in and grows innovative startups which possess high technological content and connects them to traditional companies to help them innovate their processes, products and business models.
The co-investment transaction between GELLIFY and Azimut Libera Impresa SGR through the Azimut Digitech Fund includes Surge’s entry into the ”gellification“ program, GELLIFY’s proprietary growth model that involves every corporate function and business process to fill in the gaps in a startup’s skill set.
Surge was founded in 2018 after a long period of research into the opportunities provided by blockchain technology to enable and optimize collaboration between organizations within value chains.
Their goal is to create a new enterprise software paradigm that surpasses the ”enterprise-centric“ model to move towards solutions supporting networks of enterprises of different types and sizes.
Surge has developed the first blockchain-based collaborative data management (CDM) in which companies can work together to improve the time between the conception of a product and its effective marketing (time to market) in order to reduce costs and increase profit margins.
Specifically, Surge enables different companies and industries to work together through a shared ”source of truth“ in blockchain, and Front, its software product, empowers the integration of heterogeneous processes and systems into a single set of rich data available to all partners in the value chain, achieving levels of transparency and traceability that were previously difficult to imagine.
The startup was founded and is located in a market context with great potential both in terms of prospects and numbers.
According to the American market research company Allied Market Research, the global blockchain-based supply chain market size was valued at $93 million in 2017 and is expected to reach $9 billion by 2025, growing at a CAGR of 80.2% from 2018 to 2025.
Indeed, such blockchain-based platforms have dominated the global supply chain market since 2017, and their adoption is expected to remain dominant during the forecasted period.
The increasing need for transparency and the demand for more secure transactions – along with the need to streamline supply chain processes and the proliferation of the e-commerce industry – are some of the factors expected to propel their growth.
Moreover, the advent of affordable and diversified pricing plans offered by market players is expected to present an attractive opportunity for this segment to register significant growth in the coming years.
The co-investment of Azimut Digitech Fund and GELLIFY – together with the “gellification” program which will impact Surge’s strategic and operational development and its international go-to-market strategy – will allow Surge to continue on its growth path, providing the resources and expertise needed to meet the challenges of the market.
“We are very excited about the investment in Surge,” said GELLIFY Founder and COO Gianluigi Martina. “In its technology, we found a unique combination of deep industry knowledge and expertise that fills a huge gap in the supply chain solutions market.”
“We are thrilled to have reached this agreement with GELLIFY and Azimut,” said Surge Business Development Specialist Marina Raicevic. “Since its inception, Surge has been dedicated to product development with excellent results and now, together with GELLIFY and Azimut, it will finally be able to exploit its full potential thanks to the skills that will complement the company’s mission and lead it to a constant and sustainable growth.”